Stock market in Riyadh
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Saudi Arabian stock market to open to foreign investors

23 July 2014 Last updated at 02:29 BST

Saudi Arabia's stock market will open up to foreign investors for the first time, the country has announced.

The move, which should happen in the first half of 2015, sparked a 3% rise in the Tadawul index on Tuesday.

The Saudi market is the biggest in the Middle East and the second biggest in the world, next to China, that is closed to direct foreign investment.

Mark Lobel reports from Dubai.